Fortis Healthcare Limited, through its wholly-owned subsidiary Fortis Hospotel Limited, has signed definitive agreements with Seth Sunder Lal Jain Charitable Eye Hospital. This collaboration will allow Fortis to provide healthcare services for a new 400+ bedded super specialty hospital in Ashok Vihar, New Delhi. Fortis Hospotel will also provide a loan of up to INR 5,67,00,00,000 for the hospital’s development and operation. The agreement has a committed term of 29 years.
Fortis Healthcare Expands Services with New Hospital Agreement
Fortis Healthcare Limited announced today that its wholly-owned subsidiary, Fortis Hospotel Limited (“FHTL”), has entered into definitive agreements with Seth Sunder Lal Jain Charitable Eye Hospital. These agreements are set to enhance Fortis’s presence in the healthcare sector by enabling it to provide healthcare services for a new 400+ bedded super specialty hospital located in Ashok Vihar, New Delhi.
Strategic Collaboration and Financial Commitment
Under the newly signed Healthcare Services Agreement (“HSA”), FHTL secures long-term exclusive rights to deliver specified inpatient healthcare services and utilize specialized medical equipment. The agreement has a committed term of 29 years, with an option for further extension. In addition to providing services, FHTL will also provide a loan to the SLJ Society. The aggregate loan amount is up to INR 5,67,00,00,000 (Indian Rupees Five Hundred Sixty Seven Crores only), intended for the hospital’s construction, upgradation, and operational needs. This loan will be disbursed in multiple tranches over the next 3-4 years, tied to construction progress.
Hospital Ownership and Management Structure
The new state-of-the-art facility, planned on approximately 3.1 acres of land in North-West Delhi, will be owned, operated, and managed by the SLJ Society. Fortis, through FHTL, will be responsible for providing comprehensive tertiary and quaternary healthcare services across various specialties. The hospital aims to cater to the underserved micro-market of North-West Delhi, offering services in areas such as Oncology, Neurosciences, Cardiac Sciences, and more. It will also fulfil social obligations by providing free treatment to eligible patients under the Economically Weaker Sections (EWS) category.
Market Expansion and Future Outlook
This strategic collaboration is expected to extend Fortis’s services to over 3,400 beds across the Delhi NCR region. The company views this as a significant step in leveraging its clinical expertise and healthcare capabilities to improve patient outcomes and access to quality care in the region.
Source: BSE
